HashKey Group, a digital asset company located in Hong Kong, recently introduced a new wealth management platform that is oriented toward the needs of professional and institutional investors.
HashKey claimed “significant demand from investors to access virtual assets” as the basis for its foray into the wealth management industry in an announcement made on April 14. The statement was made on April 14.
Deng Chao, the chief executive officer of the venture capital division of the company known as HashKey Capital, stated that the service enables the company to provide solutions that assist in capitalizing on the “growing opportunities of virtual assets.”
HashKey cited a survey by the consulting company Boston Consulting Group that was conducted in 2022 and concluded that just 0.3% of individual wealth was invested in cryptocurrencies, whereas 25% of person wealth was invested in stocks.
According to them, this demonstrates that there would be “potential robust demand for virtual assets in the future,” which is a perspective that was also shared by BSG when it first issued the research. HashKey made the announcement on September 13 that it had been given a “Type 9 asset management license” by the Securities and Futures Commission of Hong Kong. This license enables the company to manage portfolios that exclusively comprise virtual assets and may have opened the way for its most recent offering.
HashKey mentioned in its most recent statement that “recent challenges in the cryptocurrency market have highlighted the need for deep and reliable liquidity.”
As a reaction, HashKey said that it would be extending its over-the-counter trading service. Specifically, the company stated that it will increase the quantity of tokens available in its spot market and make its liquidity coverage available around the clock.
HashKey successfully concluded a round of funding totaling $500 million on January 17 for a fund that it intends to employ to assist in the promotion of the widespread use of blockchain and cryptographic technology. HashKey was reached out to by Cointelegraph for comment, but the publication did not immediately get a response.